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Nov 17, 2012
11/12
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CNBC
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>> this week in the fiscal cliff. >> it's because of the fiscal cliff. >> going off the fiscal cliff. >> fiscal cliff. >> looming cliff. looming cliff, one of my favorites. >> you've been watching this week in the fiscal cliff. >> it's a surprise. that's why we are throwing our surprise party tonight. have i overdone this yet? fiscal cliff. we're having a birthday cake, surprise cake. it's one of those that has ice cream. cvs barely budged the day it reported. almost like someone took a knife and stuck it into the outside surprise party. talk about a party pooper. what are these titanium balloons? inappropriate balloon moment there. scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. if we want to improve science. our schools... ... what should we invest in? maybe ne
>> this week in the fiscal cliff. >> it's because of the fiscal cliff. >> going off the fiscal cliff. >> fiscal cliff. >> looming cliff. looming cliff, one of my favorites. >> you've been watching this week in the fiscal cliff. >> it's a surprise. that's why we are throwing our surprise party tonight. have i overdone this yet? fiscal cliff. we're having a birthday cake, surprise cake. it's one of those that has ice cream. cvs barely budged the day it...
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Nov 12, 2012
11/12
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WBFF
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eye 196
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they have to avoid phe fiscal cliff. cliff. 3&"it's time to get back to work." with the electioo in the rearview mirror,,the focus in wassington is back on efforts to void thh economically evastating fiscal cliff."if we juut go over the cliff and let those policies staa in effect, we'ree recovery. neither party really pants to be blamed for ttat." the cliff amounns to seeen trillion dollars in spendinn cuts and taxxincreases over the next decadeethe threat of these painful cuts-- set to begin onnjanuary first-- is the president made lasttyear to ffrce thee to agree on a long-term deficit reduction plan. "this is an unprecedented scenario that congress has, basically put a shoot oursseves." so far, a id thaa long-terr plan, hasn't materialized.the biggest chunn of the cliff? the bush tax cuts.they're also a big sticking ppint. democrats pnsist cuts for families morr must end."if we're ars or - serious abouttreducing thee deficitt we have to combbnee spending cuts with revenue aad that means asking the wealthiest americcns to pay a rreublicans say that will hurt t
they have to avoid phe fiscal cliff. cliff. 3&"it's time to get back to work." with the electioo in the rearview mirror,,the focus in wassington is back on efforts to void thh economically evastating fiscal cliff."if we juut go over the cliff and let those policies staa in effect, we'ree recovery. neither party really pants to be blamed for ttat." the cliff amounns to seeen trillion dollars in spendinn cuts and taxxincreases over the next decadeethe threat of these...
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Nov 17, 2012
11/12
by
CNBC
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>> this week in the fiscal cliff. >> it's because of the fiscal cliff. >> going off the fiscal cliff. >> fiscal cliff. >> looming cliff. looming cliff, one of my favorites. >> you've been watching this week in the fiscal cliff. >> it's a surprise. that's why we are throwing our surprise party tonight. have i overdone this yet? fiscal cliff. we're having a birthday cake, surprise cake. it's one of those that has ice cream. cvs barely budged the day it reported. almost like someone took a knife and stuck it into the outside surprise party. talk about a party pooper. what are these, titanium balloons? inappropriate balloon moment there. [singing] hoveround takes me where i wanna go... where will it send me... one call to hoveround and you'll be singing too! pick up the phone and call hoveround, the premier power chair. hoveround makes it easier than any other power chair. hoveround is more maneuverable to get you through the tightest doors and hallways. more reliable. hoveround employees build your chair, deliver your chair, and will service your chair for as long as you own your chair.
>> this week in the fiscal cliff. >> it's because of the fiscal cliff. >> going off the fiscal cliff. >> fiscal cliff. >> looming cliff. looming cliff, one of my favorites. >> you've been watching this week in the fiscal cliff. >> it's a surprise. that's why we are throwing our surprise party tonight. have i overdone this yet? fiscal cliff. we're having a birthday cake, surprise cake. it's one of those that has ice cream. cvs barely budged the day it...
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Nov 17, 2012
11/12
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WBAL
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eye 118
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>> this week in the fiscal cliff. >> it's because of the fiscal cliff. >> going off the fiscal cliff. >> fiscal cliff. >> looming cliff. looming cliff, one of my favorites. >> you've been watching this week in the fiscal cliff. >> it's a surprise. that's why we are throwing our surprise party tonight. have i overdone this yet? fiscal cliff. we're having a birthday cake, surprise cake. it's one of those that has ice cream. cvs barely budged the day it reported. almost like someone took a knife and stuck it into the outside surprise party. talk about a party pooper. what are these titanium balloons? inappropriate balloon moment there. but i'm still "stubbed" up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] it doesn't have a decongestant. no way. [ male announcer ] sorry. alka-seltzer plus fights your worst cold symptoms plus has a fast acting decongestant to relieve your stuffy nose. [ sighs ] thanks! [ male announcer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh what a relief it is! ♪ [ male announcer
>> this week in the fiscal cliff. >> it's because of the fiscal cliff. >> going off the fiscal cliff. >> fiscal cliff. >> looming cliff. looming cliff, one of my favorites. >> you've been watching this week in the fiscal cliff. >> it's a surprise. that's why we are throwing our surprise party tonight. have i overdone this yet? fiscal cliff. we're having a birthday cake, surprise cake. it's one of those that has ice cream. cvs barely budged the day it...
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fiscal cliff fiscal cliff fiscal cliff if you completely fell off the mainstream news clip this week here's what you might have missed can you hear me now no more reindeer games in washington president obama and house speaker john boehner finally on speaking terms but the question is are they speaking each other's language when it comes to the fiscal cliff falling off the fiscal cliff into freefall is there a soft landing or not would it be the end of the world if washington failed to reach a deal to stop the more than half a billion dollars in spending cuts and tax increases from going into effect my next guest says the fiscal cliff is simply y2k fair all over again which amounted to nothing as i recall i agree we're not going to go over the cliff will hug him you know new year's eve he will be out of the work. so basically lots of speculation and very little substance but i can't say i'm not surprised particular day when i look at the recent rhetoric from this do nothing congress take us for example armed services committee just describe the looming defense cuts as quote an unaccep
fiscal cliff fiscal cliff fiscal cliff if you completely fell off the mainstream news clip this week here's what you might have missed can you hear me now no more reindeer games in washington president obama and house speaker john boehner finally on speaking terms but the question is are they speaking each other's language when it comes to the fiscal cliff falling off the fiscal cliff into freefall is there a soft landing or not would it be the end of the world if washington failed to reach a...
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Dec 15, 2012
12/12
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KRCB
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, but i think you do have to sort of look beyond the fiscal cliff, not just to the fiscal cliff. there is a lot of obsession about it for understandable reasons, if they dig in their heels there is real fiscal drag involved, we don't think that is is that is the likely scenario, we think it is much more likely they downsize the size of the cliff and maybe knock half of it off and work on the rest in early 2013, but the more important thing, tom, i think is the secular things they can do in first half of 2013 to improve the trajectory of what we are doing with our entitlement programs and with tax reforms, and if they do that, that is what i mean by looking through the cliff, if those things happen, 200013 could set up and trigger a lot of good catalysts not just in the u.s. but around the world. >> yes that's the big enchilada you are talking about with entitlement reform and tax reform, what lies beyond the cliff or for that matter, you know, what with relooking at in terms of the economy beyond it? >> well, ithink if you look at three big factors, tom, europe has gotten better
, but i think you do have to sort of look beyond the fiscal cliff, not just to the fiscal cliff. there is a lot of obsession about it for understandable reasons, if they dig in their heels there is real fiscal drag involved, we don't think that is is that is the likely scenario, we think it is much more likely they downsize the size of the cliff and maybe knock half of it off and work on the rest in early 2013, but the more important thing, tom, i think is the secular things they can do in...
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Dec 6, 2012
12/12
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CNBC
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. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> but why doesn't the market care? let's find out right now. >>> live from the nasdaq market site in new york city's time square, i'm melissa lee. here are tonight's top three trades. solving the apple mystery. want to know what's behind apple's troubles this week? we here at "fast" have gotten to the bottom of the selloff. we'll tell you what it means. plus, freeport fizzles. the fine print on why the company's two big buys are raising big red flags. >>> and nat gas revolution, the government says exporting nat gas could be a game changer for america's economy, but at what cost? we'll take a deeper dive to find some answers. but first, our top story tonight. >>> everyone cares about the fiscal cliff, except, seemingly, the markets. just 25 days until the year end deadline and still no deal out of washington. still stocks quietly climb higher. the dow closing today at a one-month high. what gives? just an assumption that a deal -- >> it almost gets back to that you never short. we're all waiting for some type of closu
. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> but why doesn't the market care? let's find out right now. >>> live from the nasdaq market site in new york city's time square, i'm melissa lee. here are tonight's top three trades. solving the apple mystery. want to know what's behind apple's troubles this week? we here at "fast" have gotten to the bottom of the selloff. we'll tell you what it means. plus, freeport fizzles....
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Dec 10, 2012
12/12
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KQED
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. >> it has probably not escaped your attention that the mantra "fiscal cliff, fiscal cliff, fiscal cliff" is played out every night on the evening news and the corporate news. what does that say to you? that you'd get "fiscal cliff, fiscal cliff," but not "job crisis, job crisis, job crisis"? >> it tells me, quite frankly, that many of these people, who by the way did not have much to say about the deficit when we went to war in iraq and afghanistan and didn't pay for it, i didn't hear from any people in the media complaining about that. what it tells me is that behind the corporate drive for deficit reduction is a significant effort to try to cut social security, medicare, and medicaid and other programs that working families need, not so much because of deficit reduction, because this has been the agenda of republicans and right wingers for a very long time. >> so how do you see this fiscal debate playing out in the next couple of weeks? >> we have, those of us who say that deficit reduction is a serious issue, i believe it is. but believe very strongly that at a time when we have the
. >> it has probably not escaped your attention that the mantra "fiscal cliff, fiscal cliff, fiscal cliff" is played out every night on the evening news and the corporate news. what does that say to you? that you'd get "fiscal cliff, fiscal cliff," but not "job crisis, job crisis, job crisis"? >> it tells me, quite frankly, that many of these people, who by the way did not have much to say about the deficit when we went to war in iraq and afghanistan...
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we go off the fiscal cliff or not. no it doesn't it's just a little more pain now or a whole bunch more later this fiscal cliff they're talking about it's like it just appeared there in front of us and the whole thing is that this trap was set back in between two thousand and one and two thousand and three when we had we started the war on terror the war on afghanistan the war in iraq. and so we increased deficit spending then we bush we did the bush tax cuts which borrows prosperity out of the future you're going to cut taxes so there's less revenues and that increases deficit spending there's less revenues coming in you're still doing the same levels of spending then we increased the levels of spending when we passed medicare part d. all these things together add up to what is happening today these choices that they're left with and one of the big problems here it's the total size of government the choice they will make is the choice to try and do a short term remedy and make next year a little bit easier by and not
we go off the fiscal cliff or not. no it doesn't it's just a little more pain now or a whole bunch more later this fiscal cliff they're talking about it's like it just appeared there in front of us and the whole thing is that this trap was set back in between two thousand and one and two thousand and three when we had we started the war on terror the war on afghanistan the war in iraq. and so we increased deficit spending then we bush we did the bush tax cuts which borrows prosperity out of the...
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Dec 4, 2012
12/12
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CNBC
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fiscal cliff buoyant because the fiscal cliff buoyant because the fiscal cliff is not that big of an issue. maybe that's why the averages once again refuse to drop dramatically, the dow falling 60 points. despite the obvious impasse i saw firsthand when i appeared on "meet the press" with david gregory this weekend, i know i've been interpreting the market's relative success through a difficult period. success is defined by no huge hammering like we had during the debt ceiling crisis as a sign that either perhaps people didn't understand what awaits them -- no no! or that there might be a deal on the horizon to avoid the fiscal cliff, the fact that the republicans put out an offer, like their old offer before the president won re-election, it does feel like the two sides are talking, but they appear to be talking past each other. the clock is really ticking in washington. ticking against a deal. i think the two sides seem to hate each other more than ever. i don't now, it seems like the last 72 hours i was hoping it was going to get better and it seems like it got worse. i spent a to
fiscal cliff buoyant because the fiscal cliff buoyant because the fiscal cliff is not that big of an issue. maybe that's why the averages once again refuse to drop dramatically, the dow falling 60 points. despite the obvious impasse i saw firsthand when i appeared on "meet the press" with david gregory this weekend, i know i've been interpreting the market's relative success through a difficult period. success is defined by no huge hammering like we had during the debt ceiling crisis...
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Dec 28, 2012
12/12
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FBC
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eye 109
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a number of companies will, you know, dive over the fiscal cliff, and i'm tired of the "fiscal cliff" term, pardon me, it's a manmade term, the fc, whatever happens january 1st. here's why they get sales from government contracts. that's the deal. it's not just the lockheed martins of the world. you'll see in here, humana, other health care companies, of course, medical device companies hit with the tax, but they have striker, for example, and there's a lot of sales from government contracts. you'll see in here, look at that, motorola, holdings in and waste management companies like waste management and republic services, ashley. ashley: what are the stock prices on the companies, iz? >> good point. goldman sachs warned since 2011 when that debt ceiling crisis hit in the summer of 2011 that triggered the fiscal cliff learning that the companies could under perform, but there's another wall street player, and that's fidelity saying watch for the banks, not just because they are under pressure as they track the general economy, but it's because business capital spending is down as of th
a number of companies will, you know, dive over the fiscal cliff, and i'm tired of the "fiscal cliff" term, pardon me, it's a manmade term, the fc, whatever happens january 1st. here's why they get sales from government contracts. that's the deal. it's not just the lockheed martins of the world. you'll see in here, humana, other health care companies, of course, medical device companies hit with the tax, but they have striker, for example, and there's a lot of sales from government...
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Dec 1, 2012
12/12
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FOXNEWSW
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you have washington elite chanting fiscal cliff, fiscal cliff, hoping to convince republicans to do something stupid because the alternative would be going off the fiscal cliff. it is and of people, the very people trying to bully us now. all you have to say is let's break it into 12, 15 foothills, no cliffs. now one by one, solve each of the smaller problem we get to some solutions. you don't have to panic over this i want to confess something. what i outlined for you, i copied from tip o'neil. when he was faced with ronald reagan in 1981, he knew he couldn't beat him in head-to-head negotiating but thought he could preserve the democratic party and welfare state in a long battle of attrition. o'neil who had a ran senate, republican president, used the power of house over and over again to slow the momentum. i think republicans got to understand they are not going to get any good deal from barack obama. he has contempt for them. he shows that on a regular basis. he's a hard-line left winger. they've got to think through the american people have chosen him he's going to be our presi
you have washington elite chanting fiscal cliff, fiscal cliff, hoping to convince republicans to do something stupid because the alternative would be going off the fiscal cliff. it is and of people, the very people trying to bully us now. all you have to say is let's break it into 12, 15 foothills, no cliffs. now one by one, solve each of the smaller problem we get to some solutions. you don't have to panic over this i want to confess something. what i outlined for you, i copied from tip...
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Dec 30, 2012
12/12
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CSPAN2
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and they get together, and they chant fiscal cliff, fiscal cliff, fiscal cliff. and if you're an intelligence politician and you walk out to do a press conference and you say what i just said to you -- which is the fiscal cliff is a fantasy, it is an excuse to panic, it's a device to get all of us running down the road so we accept whatever obama wants because otherwise we have failed the fiscal cliff, and how can you be a patriot if you don't do what the fiscal cliff requires? and the fiscal cliff will tell us one afternoon much like the land of oz where there will be this person hiding behind the machine who will say raise taxes now. and if you don't raise taxes now, you'll have violated the fiscal cliff. now, do any of you want to be the person who stands up and destroys america by violating the fiscal cliff? do you want to explain that you are so out of touch of life that you don't care america's going to die late on thursday? [laughter] it's all right if that's the kind of person you are, because we just need to know it now because we're never going to sched
and they get together, and they chant fiscal cliff, fiscal cliff, fiscal cliff. and if you're an intelligence politician and you walk out to do a press conference and you say what i just said to you -- which is the fiscal cliff is a fantasy, it is an excuse to panic, it's a device to get all of us running down the road so we accept whatever obama wants because otherwise we have failed the fiscal cliff, and how can you be a patriot if you don't do what the fiscal cliff requires? and the fiscal...
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Dec 30, 2012
12/12
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KPIX
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what lawmakers in washington are doing to try to avoid the "fiscal cliff." ,, ,,,,,,,,,,,, fiscal cliff. the house and senate return to work tomor s reporter tara me >>> the clock is ticking as congressional leaders struggle to avoid the "fiscal cliff." the house and senate return to work tomorrow. cbs reporter tara mergener on what senate leaders are doing to come up with a last-minute compromise. >> reporter: house majority leader john boehner and senate minority leader mitch mcconnell were in the capital building today hoping to beat the deadline to the luge "fiscal cliff." >> got to get a deal? >> hope so. >> reporter: behind closed doors, senate leaders are cobbling together a pared down agreement that at least protects the middle class from tax increases january 1. it won't address deficit resit, across-the-board spending cuts or other issues. in both party addresses, it's clear a big sticking point remains. >> it's a balanced plan one that would protect the middle class, cut spending in a responsible way, and ask the wealthiest americans to pay more. >> the president's tax hike w
what lawmakers in washington are doing to try to avoid the "fiscal cliff." ,, ,,,,,,,,,,,, fiscal cliff. the house and senate return to work tomor s reporter tara me >>> the clock is ticking as congressional leaders struggle to avoid the "fiscal cliff." the house and senate return to work tomorrow. cbs reporter tara mergener on what senate leaders are doing to come up with a last-minute compromise. >> reporter: house majority leader john boehner and senate...
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Nov 23, 2012
11/12
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KRCB
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. >> susie: a critical issue in this fiscal cliff debate: jobs. if the government cuts spending and rais taxes all at once on january 1, the economy will lose 2.5 million job sylvia hall reports. >> reporter: in this baltimore lab, dr. curt civin researches leukemia in search of a cure. it's hardly a political job, but these days he's keeping a close eye on the federal budget. you see, the sequester-- the severe spending cuts headed our way in january-- could affect him. if it takes affect, it will cut an estimated $2.5 billion from the national institutes of health. dr. civin and researchers like him depend on grants from the institutes for funding. >> it's tough enough to cure cancer. tough battle. going to take a long time. to cut the funding, to have unevenness, to take a project all the way, and then say, "well, we can't scale this up the way we should, or even maintain it the way we should?" how can we do that. and it's not good for us. >> reporter: dr. civin says labs across the country may have to lay people off if their grants are defunde
. >> susie: a critical issue in this fiscal cliff debate: jobs. if the government cuts spending and rais taxes all at once on january 1, the economy will lose 2.5 million job sylvia hall reports. >> reporter: in this baltimore lab, dr. curt civin researches leukemia in search of a cure. it's hardly a political job, but these days he's keeping a close eye on the federal budget. you see, the sequester-- the severe spending cuts headed our way in january-- could affect him. if it takes...
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Nov 14, 2012
11/12
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FBC
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at least the lou: fiscal cliff, fiscal cliff. you think we will be able to get a solution, these things, the president will stand up and leave in the two partiesill come together, embrace higher taxes and less spending? >> yes, i do. i really beliive in this country. labeling the country the brightest spot in the world two weeks ago. something has to be done, this is his moment to leave. >> i hope you are right. lou: do you agree or just hoping? >> i am in the hoping cegory. i have not seen any indication in that, any indication of embracing. neil: saying republicans ought to go along with the taxes for a few millionaires and take obama's offer. just talking with friend and our cocolleague fred barnes yesterd. i have not heard the offer from the obama administration, have you? >> no, but you don'bet against yourself. it is up to the president to lead, he has a do over now. there is a lot of doubt out there. it is up to president bush's offer on the table. if he acts in good faith the republicans have returned the good faith. the
at least the lou: fiscal cliff, fiscal cliff. you think we will be able to get a solution, these things, the president will stand up and leave in the two partiesill come together, embrace higher taxes and less spending? >> yes, i do. i really beliive in this country. labeling the country the brightest spot in the world two weeks ago. something has to be done, this is his moment to leave. >> i hope you are right. lou: do you agree or just hoping? >> i am in the hoping cegory. i...
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Nov 25, 2012
11/12
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FBC
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cliff, fiscal cliff, it could be the-- i don't know intimidation factor, it could actually be worse than going over the cliff. >> i think that's a brilliant point, charles. if we went over the cliff for a few months the impact would not be enormous, and uncertainty is a bad word and fear is a really, really bad words and these are the words that govern the economy today and imperative that democrats put their heart and soul into a compromise. absolutely imperative. >> dagen, what do you think about this? >> i think you cannot dismiss this, particularly if you're on the left of something as hocus-pocus and fear mongering, you can look, the list of companies that are bulge back spending and some of t biggest names in the ideas, whether it's a wal-mart, ford, disney, you name it. no company is going to commit new money to new jobs if ne don't know what's going to happen in a matter of weeks. >> and charlie, this is the kind of spending that h long-term ramifications not building factories, not buying building, long-term ramifications. >> we should make a point here, these companies a n
cliff, fiscal cliff, it could be the-- i don't know intimidation factor, it could actually be worse than going over the cliff. >> i think that's a brilliant point, charles. if we went over the cliff for a few months the impact would not be enormous, and uncertainty is a bad word and fear is a really, really bad words and these are the words that govern the economy today and imperative that democrats put their heart and soul into a compromise. absolutely imperative. >> dagen, what do...
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Nov 9, 2012
11/12
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KPIX
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>> the so-called fiscal cliff. >> the so-called fiscal cliff. >> the impending fiscal cliff. >> it's a cliff. and not going over it depends on cooperation in washington. so why worry, right? cbs 5 reporter elizabeth cook walks us to the precipice and looks over the edge. liz? >> reporter: in reality, the fiscal cliff is a deadline for congress and the president to reach a deal on the bush-era tax cuts. if you think this is something that just affects folks in washington, think again. the average household could pay an extra 2- to 3,000 in taxes. 1200 programs could be cut and it could increase the unemployment rate from 7.9 to 9%. for others, it could actually be worse. take a single mother with two kids making $50,000 a year. if we go over the fiscal cliff, she'll pay an extra $1,000 for an increase in social security taxes. and more than $1,000 because the bush-era income tax cuts are set to expire, meaning an extra $3,000 out of her paycheck next year. today, vice president biden predicted the two sides will come up with a solution. >> we're not going over the cliff. we're determi
>> the so-called fiscal cliff. >> the so-called fiscal cliff. >> the impending fiscal cliff. >> it's a cliff. and not going over it depends on cooperation in washington. so why worry, right? cbs 5 reporter elizabeth cook walks us to the precipice and looks over the edge. liz? >> reporter: in reality, the fiscal cliff is a deadline for congress and the president to reach a deal on the bush-era tax cuts. if you think this is something that just affects folks in...
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Dec 10, 2012
12/12
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CNBC
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>>> the clock is running out on the fiscal cliff. i'll talk to the former cabinet secretary who says going over the cliff is better than getting a bad deal. >>> the auto industry is back. what it's doing right in a soft economy? we'll find out what's driving profitability. >>> curtain's up on the billion dollar woman who made the lion roar, julie taymor. >> we never had a complaint about it. >> "the wall street journal report" begins right now. now, maria bartiromo. >> here's a look at what's making news. some surprisingly good news about america's economy. the labor department says 146,000 new jobs were created in the month of november. much better than economist's expectations. the unemployment rate dropped two tenth of a% at 7.7%. the labor department also says superstorm sandy had little effect on those numbers. >>> the markets continued their familiar pattern of following the latest word or words or hopes on fiscal cliff. no major moves during the week but several times the market ran out of steam to the end of the trading sessi
>>> the clock is running out on the fiscal cliff. i'll talk to the former cabinet secretary who says going over the cliff is better than getting a bad deal. >>> the auto industry is back. what it's doing right in a soft economy? we'll find out what's driving profitability. >>> curtain's up on the billion dollar woman who made the lion roar, julie taymor. >> we never had a complaint about it. >> "the wall street journal report" begins right now....
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Nov 9, 2012
11/12
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KRON
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. >> the fiscal cliff. the fiscal cliff. the fiscal cliff. the looming fiscal cliff. >> ♪ congress created the fiscal cliff in order to force itself to do with the growing national debt. worst-case scenario of a case there is no agreement on cutting spending and raising revenue. if there is no compromise by the end of the year. the pentagon's budget will be slashed by $55 billion. 10th another 55 billion will be cut from non-defense programs education full inspections, air travel safety. medicare payments to doctors will drop by 27 percent. all americans rich and poor will see their taxes rise by up to 50%. the impact on the recovering the economy everyone agrees it will be like what happens to james bond in sky fog. kron 4 news. >> we will follow the latest developments on capitol hill as the approach the fiscal clip. san jose a quick live look traffic is fine. they have rain not too long ago it may still be falling. we will find out from erica. it is chilly 47 in san warning of only 256 this afternoon. 0ñ@Ñ we are back at 4:44 am. here'
. >> the fiscal cliff. the fiscal cliff. the fiscal cliff. the looming fiscal cliff. >> ♪ congress created the fiscal cliff in order to force itself to do with the growing national debt. worst-case scenario of a case there is no agreement on cutting spending and raising revenue. if there is no compromise by the end of the year. the pentagon's budget will be slashed by $55 billion. 10th another 55 billion will be cut from non-defense programs education full inspections, air travel...
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Nov 8, 2012
11/12
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KTVU
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eye 189
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. >> reporter: do you know what the fiscal cliff is? >> the fiscal cliff? no. i haven't heard of that. >> i haven't a clue what a fiscal cliff is. >> never heard of that term. >> reporter: you will and soon. >> enormous changes that are scheduled to happen around new year's day. >> the president and congress passed a law. absent a deal, tax increases for everyone. massive budget cuts and a reduction of the federal budget. >> large cuts in defense spending. large cuts in non-defense spending. what that means is the government will buy fewer things. hundreds of billions of dollars less. >> reporter: government will have less to spend. higher taxes means individuals and businesses will have less money. >> it will be noticeable and painful. >> reporter: huge layoffs possible, the u.s. economy could stall or -- >> you could see a recession. >> reporter: now that we know -- >> i hope not. >> it is us who have to pressure those people representing us. >> they should be more in tune with what americans need. >> sit down and come to an agreement. >> reporter: with congr
. >> reporter: do you know what the fiscal cliff is? >> the fiscal cliff? no. i haven't heard of that. >> i haven't a clue what a fiscal cliff is. >> never heard of that term. >> reporter: you will and soon. >> enormous changes that are scheduled to happen around new year's day. >> the president and congress passed a law. absent a deal, tax increases for everyone. massive budget cuts and a reduction of the federal budget. >> large cuts in defense...
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Nov 24, 2012
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. >> david: ready to go fiscal cliff diving? apparently a lot of businesses and shoppers are already afraid of the fall. i'm charles payne in for neil cavuto. with the holiday shopping season underway a lot of consumers are saying no way. and more than half saying the uncertainty around the fiscal cliff will impact their spending and job creators are cutting back on spending and a bad deal for the economy? well, let's ask. ben stein, dagen mcdowell, charlie gasperino and gary k. want to start with you. bad deal for all of us? >> of course, look, business investment was already down last quarter over 1%, and the word uncertainty just pervades the air and its business, its consumer, how about philanthropic organizations don't no what kind of write-offs for charity and the worst the outcome is probably going to be more, and taxes are going to go up and of course there will be no spending cuts. >> and ben, it does sound ominous, even if you're not someone who reads the wall street journal, the fiscal cliff, fiscal cliff, it could be
. >> david: ready to go fiscal cliff diving? apparently a lot of businesses and shoppers are already afraid of the fall. i'm charles payne in for neil cavuto. with the holiday shopping season underway a lot of consumers are saying no way. and more than half saying the uncertainty around the fiscal cliff will impact their spending and job creators are cutting back on spending and a bad deal for the economy? well, let's ask. ben stein, dagen mcdowell, charlie gasperino and gary k. want to...